The head of Egypt’s General Council to the UAE, Abd Al-Aziz Daud, has recently stated that trade exchanges between the two countries are valued at $212 million, according to Al-Ahram daily. He added that the emirate of Dubai alone is responsible for 70 percent of this total, to a large extent due to its free trade zone.
According to Mamduh Mustafa, the commercial counselor at the Egyptian UAE Embassy, the UAE is the third largest investor in Egypt. UAE investments in Egypt are valued more than 1.3 billion Egyptian pounds ($329 million).
There are 89 joint venture projects involving UAE nationals and Egyptian partners in Egypt. These include 30 manufacturing projects, 23 financing projects, seven service sector projects, six tourism and leisure projects and three construction ventures. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)
